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2 hours ago
- Business Insider
U.S. Stock Futures Rise After President Trump Announces New Tariffs
U.S. stock futures inched higher Wednesday evening after President Donald Trump disclosed new tariffs on imported semiconductors and chips. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 Index (SPX) were up 0.16%, 0.07%, and 0.17%, respectively, at 7:04 p.m. EDT on August 6. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Trump stated that a 100% tariff would be applied to imported chips, but with a key exemption: companies that are 'building in the United States' would not be subject to the new levy. This news came shortly after Apple (AAPL) committed an additional $100 billion investment in the U.S. over the next four years. This follows a positive day for the broader market, with the S&P 500, the Nasdaq Composite, and the Dow gaining 0.7%, 1.2%, and 0.2%. Traders continue to monitor tariff-related news and key quarterly earnings reports. Looking ahead to Thursday, traders are focused on new economic data, including Weekly Jobless Claims, as well as the second-quarter reports on Unit Labor Costs and Productivity. On the corporate earnings front, SoundHound AI (SOUN), D-Wave Quantum (QBTS), Pinterest (PINS), Block (XYZ), and Eli Lilly (LLY) are scheduled to release quarterly numbers.


Business Insider
2 hours ago
- Business Insider
Apple Stock (AAPL) Surges on New $100B U.S. Investment Drive
Shares in U.S. tech giant Apple (AAPL) rose 4% in early trading after the White House said it was planning to announce a new huge production investment in the U.S. later today. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to White House spokesperson Taylor Rogers, President Donald Trump will announce that Apple will commit to spend another $100 billion on domestic manufacturing. New Manufacturing Program Trump, with Apple chief executive officer Tim Cook also likely to attend, will reveal that the spend will include a new manufacturing program designed to bring more of Apple's supply chain to the US, with an eye toward manufacturing additional critical components domestically. 'President Trump's America First economic agenda has secured trillions of dollars in investments that support American jobs and bolster American businesses,' White House spokesperson Taylor Rogers said in a statement. 'Today's announcement with Apple is another win for our manufacturing industry that will simultaneously help reshore the production of critical components to protect America's economic and national security.' Apple did not immediately respond to media requests for comment. The company has previously announced it plans to spend $500 billion in the US over the next four years, which will include work on a new server manufacturing facility in Houston, a supplier academy in Michigan and additional spending with its existing suppliers in the country. Today's announcement will bring Apple's cumulative commitment to $600 billion, the White House said. Apple Options Although Trump will likely paint the investment as another win for his tariffs policy, which partly are based on ramping up U.S. production, it will still fall short of its goals to see a full shift of Apple manufacturing. Earlier this year, the president threatened to hit Apple with a tariff of at least 25% if it didn't move manufacturing of the iPhone to the US, a day after meeting with Cook at the White House. It has been looking at upping its supply from other countries instead, such as India. Apple revealed last week that it took an $800 million hit from tariffs in the June quarter and expected them to add $1.1 billion to its costs in the September quarter, assuming no policy changes or new duties. The uncertainty has been weighing on Apple's stock this year. Is AAPL a Good Stock to Buy Now? On TipRanks, AAPL has a Moderate Buy consensus based on 14 Buy, 12 Hold and 1 Sell ratings. Its highest price target is $275. AAPL stock's consensus price target is $233.33, implying a 14.74% upside.


Business Insider
2 hours ago
- Business Insider
NN, Inc. still sees 2025 revenue $430M-$460M, consensus $443.17M
Still sees 2025 adjusted EBITDA $53M-$63M. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>